News
CITIC PE to launch offshore energy fund with Canadian asset manager
CITIC Private Equity has entered into a joint venture with Canadian asset manager Sprott to set up an offshore global resources fund. The vehicle fits in with China’s strategic interest in acquiring overseas energy assets required to sustain economic...
Korea’s Access Bio goes public, STIC PE expects 5x return
STIC Private Equity has made a partial exit from Korean biotech firm Access Bio after the company went public on the KOSDAQ exchange. The PE firm sold shares in two tranches – one just before the IPO and one during it – and has generated a money multiple...
IFC, Infuse back Indian energy efficiency startup with $1.5m
The International Finance Corporation has invested $1 million in Ecolibrium Energy, a startup which provides a technology platform to reduce energy usage. Indian Fund for Sustainable Energy Ventures (INFUSE Ventures) will also invest $500,000 in the company.
SingTel Innov8 leads Series C round for TubeMogul
SingTel Innov8, the venture capital arm of Singapore Telecommunications, has led a $10 million Series C round of investment in TubeMogul, a global video marketing platform.
IFC invests $5m in India’s NSL Renewables
The International Finance Corporation (IFC) has invested $5 million in Indian energy developer NSL Renewables Power Private Limited (NRPPL) to finance its wind and hydropower projects. NSL has raised a total of $120 million for the current phase of its...
IFC ups stake in Mongolia's TenGer Financial Group
International Finance Corporation (IFC), the investment arm of the World Bank, has increased its stake in Mongolia's TenGer Financial Group (TFG) to 19% for an undisclosed amount.
Warburg Pincus co-president targets emerging markets consumer, tech – AVCJ Forum
Warburg Pincus sees investment potential at the nexus of consumer and technology as it looks to increase its activity in emerging markets. China is set to feature strongly, but so too will India, Brazil, and central and eastern Europe.
Tandem Capital to launch India mobile VC fund
Silicon Valley-based Tandem Capital, which focuses on the mobile sector, is launching an India-focused fund that plans to invest in 20 startups in the country over the next year. Aarin Capital’s Ranjan Pai and T V Mohandas Pai will be partners in the...
Global investors to boost alternatives exposure – survey
Institutional investors expect to increase allocations to alternatives in 2013, with focus on real assets such as infrastructure and property, according to a survey by AMP Capital.
CDH, Goldman-backed Chinese pork producer bids for Smithfield
Shuanghui International, a Chinese pork producer that counts CDH Investments and Goldman Sachs among its investors, has offered $4.7 billion in cash for US-based Smithfield Foods. The proposed deal, which values Smithfield at $7.1 billion including debt,...
Navis acquires Malaysia's HG Power
Navis Capital Partners has invested MYR25- 40 million ($8.1 million- $13 million) in Malaysian power company HG Power Transmission for a more than 50% stake.
PE firms target SingTel’s Australian satellite unit
Singapore Telecommunications (SingTel) has put its Australian satellite unit up for sale, seeking at least A$2 billion ($1.9 billion), and a string of private equity firms and strategic investors are said to be chasing the asset.
Carlyle acquires 49% stake in China shopping malls
The Carlyle Group has acquired a 49% stake in two shopping malls in Suzhou and Hangzhou owned and operated by Chinese developer SZITIC Commercial Property (SCP) as part of a strategic partnership.
Nissay, Nippon invest $1m in online translation service
Nissay Capital and Nippon Venture Capital Co. (NVCC) have led a JPY108 million ($1 million) round of investment in Japan's Yaraku, the company behind online cloud translation service WorldJumper. Individual investors are also said to have taken part in...
Invictus Oncology gets $2m from Navam, Aarin
Indian investors Navam Capital and Aarin Capital have invested INR10.5 million ($1.88 million) in Delhi-based Invictus Oncology as part of a Series A round of funding.
Warburg Pincus makes debut Vietnam investment
Warburg Pincus has made its first investment in Vietnam, leading a consortium that will pay $200 million for a 20% stake in the retail property platform of Vingroup, the country’s largest private-sector real estate operator.
Cambridge Associates to offer discretionary services in Singapore
Cambridge Associates has received a license to offer discretionary portfolio management services via its Singapore affiliate. The group has been operating in Asia since 2001, offering independent research and advisory services to institutional investors....
China’s CIC names ex-ICBC executive to head supervisory board
China Investment Corp. (CIC) has named Xiaopeng Li, a former vice president at Industrial & Commercial Bank of China (ICBC), as head of its supervisory board. He replaces Liqun Jin, who spent five years in the role.
Fosun, Axa make $700m buyout offer for Club Med
Chinese conglomerate Fosun International and Axa private equity have submitted a friendly takeover bid for French-based vacation resorts operator Club Méditerranée (Club Med). It values the company at EUR556 million ($700 million).
Indonesia’s MPM to boost auto rental exposure, preps IPO
Mitra Pinasthika Mustika (MPM), the Indonesian motorcycle distributor in which Affinity Equity Partners and Saratoga Capital invested around $100 million last year, is looking to boost its car rental business. The comes as the company prepares to raise...
JBIC, Mizuho partner with Singapore government to promote SMEs
Mizuho Corporate Bank (MHCB) and Japan Bank for International Cooperation (JBIC) have signed an agreement with SPRING Singapore, an agency under the Ministry of Trade and Industry, to encourage collaboration between small businesses in Japan and Singapore.
VC-backed companies lead the way in Australia R&D - study
Venture capital-backed companies in Australia spend an average 200 times more on R&D per employee than other businesses, according to a report by the Australian Private Equity & Venture Capital Association (AVCAL).
Panasonic's healthcare business to attract 10 PE bidders - report
Around 10 private equity firms and a handful of strategic investors are expected to enter first-round bids for Panasonic's healthcare unit.
China Development Bank to provide financing for PE, Weichai-backed Kion
China Development Bank will provide EUR500 million ($647 million) in financing to support the partnership between Weichai Power, a Chinese automotive and equipment manufacturer, and Kion, a German forklift truck maker backed by KKR and Goldman Sachs....